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image  Old London Road, Kingston, KT2


image Sold

Floor area:
3,941 sq. ft. (366 sq. m.)
image Sold (Freehold)

Property Description


Freehold Investment for Sale

Location:
The property benefits from frontage on both Old London Rd and Fairfield North (A307), and is located a short walk from Kingston Rail Station and Bentalls Shopping Centre. Kingston is a leading retail and commercial centre, benefitting from excellent commuter links. The A3 and M25  are easily accessible and London Waterloo is 30 mins away from Kingston Rail Station.

Description:
The building was constructed c.2004. It comprises 20 residential units on the first to fourth floors, sold off on 999 year leases from January, 2001, with a ground rent passing is £3,000 per annum, and 3,941 sq. ft. of retail space on the ground floor with two frontages - London Rd 20.78 m. (68’2” ft.) and Fairfield North (A307) 16.63 m. (54’7” ft.)

Tenancy:
The ground floor is let to Homestyle Group Operations Ltd. (trading as Benson Beds) on a new 10 year FRI lease from 6 June, 2013. The current rent passing is £75,000 per annum.
 
Price:
£1,000,000 for the freehold interest.

The total rent passing is £78,000 per annum. This price reflects a net initial yield of 7.37% accounting for purchasing costs at 5.8%.

Legal Costs
Each party to bear their own legal costs.

EPC
Rating D


Kingston

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Floorplan

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